March 12, 2018 / 6:13 AM / 2 months ago

BRIEF-Swiss medtech group Medartis unveils IPO terms

March 12 (Reuters) -

* SWISS MEDICAL TECHNOLOGY GROUP MEDARTIS SAYS SETS THE PRICE RANGE FOR ITS IPO, CONSISTING OF UP TO 2,840,908 NEWLY ISSUED SHARES, AT CHF 44 TO CHF 54 PER OFFERED SHARE

* MEDARTIS SAYS GROSS PROCEEDS FROM THE OFFERING OF APPROXIMATELY CHF 123.7 MILLION (APPROXIMATELY CHF 142.5 MILLION INCLUDING 15% OVER-ALLOTMENT SHARES) INTENDED TO BE USED TO FINANCE THE COMPANY’S STRATEGIC GROWTH INITIATIVES

* MEDARTIS SAYS OFFER PERIOD COMMENCES TODAY AND IS ANTICIPATED TO CONCLUDE ON MARCH 21, SHARES TO START TRADE ON OR AROUND MARCH 23

* MEDARTIS SAYS EXPECTS TO RAISE GROSS PROCEEDS OF APPROXIMATELY CHF 123.7 MILLION FROM THE IPO, OR APPROXIMATELY CHF 142.5 MILLION IN GROSS PROCEEDS INCLUDING THE OVER-ALLOTMENT SHARES

* MEDARTIS SAYS FOUNDER AND CHAIRMAN THOMAS STRAUMANN WILL REMAIN THE MAIN SHAREHOLDER WITH A STAKE, DEPENDING ON THE FINAL OFFER PRICE AND THE NUMBER OF SHARES ISSUED, IN THE RANGE OF 46.4% TO 50.1%

* MEDARTIS SAYS IN PARALLEL TO THE IPO, MEDARTIS WILL ISSUE, DEPENDING ON THE FINAL OFFER PRICE, BETWEEN 1,285,402 AND 1,577,539 NEW SHARES FROM EXISTING CONDITIONAL CAPITAL TO ENDEAVOUR MEDTECH GROWTH LP, SCHRODER & CO BANK AG AND THE BANK LANDOLT & CIE

* MEDARTIS SAYS UPON ISSUANCE OF ALL SHARES OFFERED IN THE IPO, INCLUDING THE OVER-ALLOTMENT SHARES, THE FREE FLOAT IS ANTICIPATED TO AMOUNT UP TO 25.8% Source text for Eikon: (Reporting By Michael Shields)

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